vpz3d ago
S.L. Maja Porter, Esq.
🧵 THREAD: The U.S. Treasury just released its annual financial report. Almost nobody covered it. Let me break it down in plain English, no panic, just facts.
Mar 24 at 6:54pmWeb
Show threadS.L. Maja Porter, Esq.4d ago
Every year the U.S. Treasury publishes what’s basically the government’s financial report card.
Last week they dropped the FY2025 version.

Let’s go over it, together.
Show threadS.L. Maja Porter, Esq.4d ago
The headline number…

The U.S. government currently owes about $47.78 trillion in obligations.

It has about $6.06 trillion in assets.

That’s a gap of -$41.72 trillion.

Those are the government’s own numbers, not spin and not opinion.
Show threadS.L. Maja Porter, Esq.4d ago
I know what you’re thinking. “That sounds catastrophic. Are we about to collapse?”

Short answer… No. Not tomorrow. Not next year.
But it IS a serious problem that’s getting worse and most of our leaders aren’t being straight with us about it.

Simple way to think about it… Imagine a household that earns $50,000/year but spends $70,000/year, every single year & puts the difference on a credit card, but the lights are still on & groceries are still in the fridge… well, the bill keeps growing.
Show threadS.L. Maja Porter, Esq.4d ago
The U.S. can do something your household can’t, it controls the dollar and can borrow at massive scale.
That’s a real advantage. It’s why we’re not Greece.

But it’s not a magic trick. It just means the reckoning looks different, slower, quieter, and often more painful for regular people than for the wealthy.
Show threadS.L. Maja Porter, Esq.4d ago
Those $47 trillion in official obligations don’t even include Social Security and Medicare.

Those are listed separately, as future commitments, not current liabilities.

That additional number? $88.4 trillion over the next 75 years.

It jumped $10.1 trillion in a single year.
Show threadS.L. Maja Porter, Esq.4d ago
Add it all up…

$47.78T (official) + $88.4T (Social Security & Medicare) = over $136 trillion in total federal obligations.

The entire U.S. economy produces about $27 trillion per year.

We owe roughly 5 times what we make annually as a country.
Show threadS.L. Maja Porter, Esq.4d ago
The part that should concern you most, Social Security’s trust fund is on track to run dry by 2032.

When that happens, current law requires an automatic 24% benefit cut, not a vote, not a debate.
Automatic. Unless Congress acts before then.
Show threadS.L. Maja Porter, Esq.4d ago
And interest on the debt? We now pay over $1 trillion per year just in interest. That’s more than we spend on the military.

More than Medicare.

Every dollar going to interest is a dollar NOT going to schools, roads, veterans, or you.
Show threadS.L. Maja Porter, Esq.4d ago
So what does this mean for your life?

Higher prices over time (inflation is how governments quietly shrink what they owe)

Pressure on Social Security & Medicare benefits

Less government money for everything else

Higher interest rates on your mortgage, car loan, credit card

It won’t show up all at once. It already is showing up, gradually.
Show threadS.L. Maja Porter, Esq.4d ago
This is not a Democrat problem or a Republican problem. Both parties spent freely for decades and left the bill for later. “Later” is arriving.

The only debate now is how we fix it and who bears the cost of fixing it. History tells us it’s rarely the people at the top.
Show threadS.L. Maja Porter, Esq.4d ago
The U.S. is not collapsing tomorrow
Your bank account is not disappearing
Social Security still exists, for now
But the math is real, the trajectory is unsustainable, and time matters

The longer we wait, the harder the landing.
Show threadS.L. Maja Porter, Esq.4d ago
Sources, read them yourself:
U.S. Treasury FY2025 Financial Report
CBO Budget & Economic Outlook 2026–2036
Committee for a Responsible Federal Budget
Fortune / Hanke & Walker, March 23, 2026
Show threadbouriquet3d ago
@majaporter It means that the banks own the country, along with nations that own US T-bonds
Show threadHwa YangJerng4d ago
"borrow" -> "print"
Show threadZuzana Willett3d ago
Thank you for this breakdown of the finances. Clear enough for everybody, scary too.
Makes me even more aghast at the unnecessary boys’ wars Iraq & Epic Folly and profligate spending.
Show threadS.L. Maja Porter, Esq.3d ago
just spending and spending and spending … they have no control